Vale S.A. (NYSE:VALE) Q4 2023 Earnings Call Transcript

Eduardo De Salles Bartolomeo: Thanks for the question. On Salobo it’s a federal jurisdiction. So we think it’s a different type of conversation.

Operator: The question-and-answer section is over. We would like to hand the floor back to Mr. Eduardo De Salles Bartolomeo for the company’s final remarks.

Eduardo De Salles Bartolomeo: Okay, I think we missed Tina’s last question. Want to go? Okay, yes, go ahead.

Marcello Spinelli: Sorry. Timna, talking about the freight market, we don’t see actually any major impact coming from the tensions in the Middle East, the Cape size business. We don’t see usual trades in that region or that specific place. So what the impact that we had in the first half or first quarter of this year was related to Vale actually we had an increase of volumes in December. Now we have the stability and we have our own fleet that we see no major, I can say, impact coming from the fundamentals of the freight market. So stability is the name of the game for this year.

Eduardo De Salles Bartolomeo: Thank you, Spinelli. And just to conclude, I think last October, I said I was really optimistic. I said, I have never been so optimistic. I think now I think everybody understands why. Everything starts to fall in place. I think we’ve been and I actually, I’m being even more optimistic now. Because we have been through the rainy season. We never passed through the rainy season so well. I think all the elements of our strategy are coming together. The reorganization, the energy transition business is doing well. With asset review going on. Our safety this is the most important element for me and for Vale is doing really, really well. The dams are under control. So again, I think Vale is in a very, very unique moment. And thanks again for your attention. And let’s see in the next call. Okay. Have a safe day.

Operator: Vale’s Conference is now closed. We thank you for your participation.